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Robin D., Senior Tax Advisor 4

Category: Tax

Satisfied Customers: 9916

Experience: 15years with H & R Block. Divisional leader, Instructor

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I was declared permantmently disabled in 2000 and 2002 due

Resolved Question:

I was declared permantmently disabled in 2000 and 2002 due to a hardship I withdrewfunds from my IRA I was not 59.5 yet. I had been a school teacher in Manatee county for 30 years had gone through vocational rehab to continue teaching the last 5 years I was there. I had thought they had taken the taxes from my money I withdraw surprise they had not. I am reading in the tax information that the 10% penalty for early wd can be waved under my circumstance. But I am paying large amounts for this money I wd at this time and I am not sure what I owe or why. I went thru a lawyer who supposely negiotated w th IRS but I received no breakdown of what I owe or why I am in a program where I pay $425 a month for I do not know how long and still no answers because the lawyers no longer represent me I need help I am 66 on a limited income with high precripation bills and I pay over $500 amonth for the medical insurance not including medicare

Hello and thank you for using Just Answer,It appears the lawyer you used to negotiate actually set you up on an Installment arrangement with the IRS. At the time you made the withdrawal you may have been allowed to have the exception from the 10% penalty but now that time has past.What you need to do is call the number on the last notice you recieved from the IRS. As you are on a limited income you may be allowed to lower the amount you pay or have the IRS place you on what they call Currently Not Collectible. This means that th etax bill is not forgiven but you just do not have the funds to pay it given your present circumstances.

Robin D :

Depending on the amount you owe (the IRS will be able to tell you that when you call) they may require you fill out a form showing what income you do have and your assets as well as your expenses.

Robin D :

You do not need a lawyer for this and when you call you will get to speak with an individual.

Robin D :

It will not happen over night (most likely) so you will need to follow whatever steps the IRS require to see if you can pay less or nothing.

Customer:

thanks I appreciate the info I spend alot of money nearly $4000 to pay 425 amonth payment program the whole matter has been a nightmare I took the money out and at the same time had a problem because the put my husbands IRA in my social security number and when he transferred it in 2000 from Bradenton to Summerfield fl I was being assessed for that money and we finally got that cleared up and put into his ss number and at the same time they were sending me notices about my IRA but I thought it was his they had put under my ss number it was such a mess and has continued till now . today is a good day and I am thinking well but some days due to the meds and my lupus etc I am foggy. I appreciate the help God Bless you

Robin D :

Your positive rating is always thanks enough.

If you could also participate in the very short survey that Just Answer will send you by e-mail I would appreciate that very much.I really enjoyed working with you – please feel free to request me again when you come back to ask another question.

Customer:

I will look for the last notice I got if I can not find it we recently moved again is there a number I might try as long as I have my ss number

Robin D :

Yes, you can call the general line 1-800-829-1040

Customer:

thanks

Robin D :

You are most welcome

Robin D :

After you rate when you visit your question homepage, you’ll see a link to request me again. This link displays and works whether I am online or offline.

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with. OrvilleHesperia, California

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